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Demand For Medical Device Technologies Is Likely To Be Valued At US$ 663 Billion By 2032

 Demand for medical device technologies was valued at US$ 470.32 Billion in 2021, and is likely to flourish at a Y-o-Y expansion rate of 4.6% in 2022, reaching US$ 491.95 Billion. From 2022-2032, the industry is poised to experience a CAGR of 3%, anticipated to close at a valuation of US$ 663 Billion.

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Medical device innovations will continue to expand as a result of technological developments like mHealth devices, continuous glucose monitoring systems, and insulin administration systems. Additionally, advancements in the ophthalmology market can be seen in systems like implantable miniaturised telescopes, clever adapters, and luxury intraocular lenses. (IOLs).

Recently, robotic technology has been used in minimally invasive diagnostic and surgical operations to provide accurate and rapid diagnosis in conjunction with medical imaging modalities like 3D/4D visualisation. Applications for image analysis and computer-assisted detection (CAD) have improved as a consequence of advancements in 3D/4D imaging.

Key Medical Device Technologies Service Providers

  • Medtronic Plc.
  • Johnson & Johnson
  • Siemens Healthineers
  • GE Healthcare
  • F. Hoffmann La Roche Ltd.
  • Phillips Healthcare
  • Baxter International
  • Boston Scientific Corporation
  • Abbott Laboratories, and Cardinal Health

After reading the report on Global Medical Device Technologies Market, readers get insight into: 

  • The prevailing challenges, restraints, opportunities, and drivers of the market
  • The competitive landscape with profiles of leading market players
  • New as well as promising avenues for revenue generation in key regions of the market
  • Emerging revenue streams for all the players in the developing regions
  • Influence of Covid-19 in the market and how the pandemic is going to shape the contours of the market in the forthcoming years
  • Technologies and business models with disruptive potential 
  • Role of regulatory bodies in boosting new growth opportunities of the market across different parts of the world
  • How new market developments are likely to influence the market at large in the near future 

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Increasing investment in R&D activities by medical technology firms for the creation of new and improved medical devices, as well as easy clearance for such products by regulatory authorities, are projected to drive market expansion for medical devices in the future years.

Key Segments Covered in the Medical Device Technologies Industry Report

  • Medical Device Technologies by Device Type
    • In-Vitro Medical Diagnostic (IVD) Devices
    • Cardiology Devices
    • Diagnostic Imaging Devices
    • Orthopedic Devices
    • Ophthalmology Devices
    • Endoscopy Devices
    • Diabetes Care Devices
    • Wound Management Devices
    • Kidney/Dialysis Devices
    • Anesthesia and Respiratory Care Devices
    • Others
  • Medical Device Technologies by End User
    • Academics & Research
    • Hospitals
    • Clinics
    • Diagnostic Centers
    • Ambulatory Surgery Centers
    • Others
  • Medical Device Technologies by Region
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa (MEA) 

What Do You Get in a Fact.MR Study?

  • Factors affecting the overall development of the Medical Device Technologies Market
  • Factor that might restrain the growth of the global Medical Device Technologies market in the coming years of the forecast period
  • What is present competitive scenario of the global Medical Device Technologies Market and its intricate details concerning potential business prospects of leading market players
  • Pricing strategies of several different market players in the global Market

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